Page 39 - The Ontario Curriculum: Career Studies, Grade 10, Open (GLC2O) – Guidance and Career Education. Advance Release of Curriculum Expectations, 2019 (revised course)

Savings options: types of savings accounts and their accompanying interest rates; credit unions, banks; Tax-Free Savings Accounts (TFSAs); Registered Retirement Savings Plans (RRSPs)
Teacher Prompts
In the context of spending and personal finances, what is the difference between a “need” and a “want”? How might people’s values affect their wants or the ways in which they satisfy their needs? What does “living within your means” mean? How can you do this successfully?
What challenges can arise from not paying bills on time and using multiple credit cards? What other practices can lead to financial challenges? What strategies can be used to avoid financial pitfalls?
What are the advantages of starting to save at a young age? What are the benefits of having a regular savings plan? How can such a plan support your short- and long-term personal finance goals?
How is budgeting for short-term goals, such as buying clothing, different from budgeting for long-term goals, such as buying and maintaining a car?
What are some of the savings options available to you, including those offered at various banks and credit unions? What are some of the advantages and disadvantages of each, and how can knowing this information help you choose the savings options that best suit your needs?
What are some of the financial planning tools available to you through various banks and credit unions? Which of these financial planning tools would be most useful in supporting you now, as you begin part-time work or summer employment and plan for postsecondary destinations?
Why is ongoing personal financial management important, regardless of your age, gender, culture, income, or profession? How is taking care of your finances connected to your well-being?
Instructional Tip
It is important to avoid assumptions and respect family and cultural expectations, practices, and perspectives when discussing financial responsibility and planning with students.
Strand C | Planning and Financial Management to Help Meet Postsecondary Goals | GRADE 10 39